Nine oil refiners paid $1.35 billion for RINs in 2013

In New York, Reuters reports that the nine oil refiners who report their RIN purchases paid $1.35 billion to comply with the RFS when RIN prices trebled in price last year. The number would be much higher if other refiners were included. Independent refiners appeared to shoulder the brunt of the expenses as they did not have the capacity to generate their own RINs.